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11 – 20 of over 1000In financial markets investors and borrowers are faced with a whole structure of prices and interest rates on financial instruments. The determination of equilibria in these…
Abstract
In financial markets investors and borrowers are faced with a whole structure of prices and interest rates on financial instruments. The determination of equilibria in these markets is a complex process and presents a challenge to researchers and practitioners alike. In this article we are concerned with a single section of these markets where we study the relationships between the interest rates or yields on financial securities which can be distinguished from each other (as far as possible) only by their term to maturity. We only cover the structure of money or nominal yields, as an examination of the real returns would require another arti‐cle in itself.
As our correspondent on another page suggests, the economic crisis may have reactions upon libraries. The most obvious one he mentions is the increased difficulty we shall…
Abstract
As our correspondent on another page suggests, the economic crisis may have reactions upon libraries. The most obvious one he mentions is the increased difficulty we shall experience in obtaining American books. Not all libraries, public or private, make any special collection of books published in the United States, although there has been an increasing tendency to buy more as the relations of the two countries have grown closer through their common struggle; in fact, we know libraries which have spent many hundreds of pounds in the course of the past year or two on the select lists of books which have been made for us by American librarians. It is most unfortunate that the manipulation of dollar currency should have brought about a situation in which even the exchange of ideas between the countries becomes more difficult. One suggestion might be made and that is that our American colleagues should continue to sift the literature of this time of famine for us, so that further select lists may be available in better days.
Alice S. Fisher, Douglas K. Yatter, Douglas N. Greenburg, William R. Baker III, Benjamin A. Dozier and Robyn J. Greenberg
This paper aims to analyze the March 6, 2019 enforcement advisory in which the Division of Enforcement (Division) of the US Commodity Futures Trading Commission (CFTC or…
Abstract
Purpose
This paper aims to analyze the March 6, 2019 enforcement advisory in which the Division of Enforcement (Division) of the US Commodity Futures Trading Commission (CFTC or Commission) announced that it will work alongside the US Department of Justice (DOJ) and other agencies to investigate foreign bribery and corruption relating to commodities markets.
Design/methodology/approach
This paper explains the enforcement advisory and outlines key considerations for industry participants and their compliance teams, including the CFTC’s plan to investigate in parallel with other enforcement authorities, an expansion of the CFTC’s existing self-reporting, cooperation and remediation policy to address foreign corruption and the CFTC’s focus on market and economic integrity, and provides guidelines for commodities companies concerning anti-corruption compliance and training programs, investigating potential incidents of bribery and corruption, reporting obligations under the Commodity Exchange Act (CEA) and CFTC regulations, voluntary reporting of incidents of foreign corruption and whistleblowing.
Findings
The CFTC announcement adds a new dimension to an already crowded and complex landscape for anti-corruption enforcement. A range of industries, including energy, agriculture, metals, financial services, cryptocurrencies and beyond, must now consider the CFTC and the CEA when assessing global compliance and enforcement risks relating to bribery and corruption.
Originality/value
Expert guidance from lawyers with broad experience in white collar defense, investigations, financial services, securities, commodities, energy and derivatives.
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